Has anyone started/built a supplement company before?

[Medellin]

Hoping to get some advice/feedback on best practices of approaching private label supplement formulation companies.

I have a specific niche that I want to tackle. I hoping to get schooled in how to best approach an MVP/test product in this space.

Interested in knowing:

1. Does & don'ts
2. Portions of ingredients
3. Regulations
4. Negotiating
5. Etc.

Thank you in advance.

 

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[Walter Hay]

Hoping to get some advice/feedback on best practices of approaching private label supplement formulation companies.

I have a specific niche that I want to tackle. I hoping to get schooled in how to best approach an MVP/test product in this space.

Interested in knowing:

1. Does & don'ts
2. Portions of ingredients
3. Regulations
4. Negotiating
5. Etc.

Thank you in advance.

I have one "Don't" for you: Don't search for companies that offer private label. If you buy from them you will be joining a crowd all trying to sell the exact same product as you. Also, they will charge you an arm and a leg for designing a label.

Instead, search for manufacturers of ...X.... (whatever best describes the product you want to sell.) and ask them if they will supply product X made to suit you. You handle the labeling side of it yourself.

Walter

 

[Walter Hay]

When approaching private label supplement formulation companies, here are some best practices to keep in mind:

1. Research and due diligence: Thoroughly research potential formulation companies to ensure their credibility, reputation, and expertise in your niche.

2. Non-disclosure agreement (NDA): Consider having an NDA in place before discussing your unique formula to protect your intellectual property.

3. Clear product specifications: Clearly define your product's target market, intended use, ingredients, and unique selling points. This will help the formulation company understand your vision.

4. Compliance with regulations: Ensure the formulation company adheres to relevant regulations and certifications, such as FDA guidelines, GMP (Good Manufacturing Practices), and any specific requirements for your niche.

5. Ingredient portions and sourcing: Discuss ingredient options and their optimal portions with the formulation company. Consider factors such as efficacy, safety, and cost-effectiveness while formulating your product.

6. Quality control and testing: Inquire about the company's quality control processes, including testing for potency, purity, and contaminants. Ensure the final product meets your standards.

7. Negotiation and pricing: Seek competitive pricing while considering the quality of ingredients, manufacturing processes, and packaging. Negotiate terms, such as minimum order quantities and lead times, to align with your business goals.

8. Packaging and labeling: Discuss packaging options, label design, and compliance with labeling regulations to create an attractive and informative product package.

9. Production timeline and scalability: Understand the formulation company's production capacity and their ability to scale up as your business grows. Determine realistic timelines for product development and manufacturing.

10. Feedback and reviews: Request references or testimonials from other clients who have worked with the formulation company. Gather feedback on their communication, responsiveness, and overall satisfaction.

Remember, it's essential to consult with legal and regulatory professionals to ensure compliance with specific industry regulations and guidelines in your region.

Rather than look for a manufacturer that advertises as a Private Label supplier, I would suggest looking for companies who are toll manufacturers, or simply manufacturers of the kind of products you want to buy.

The reason is that whatever kind of products you want to buy, if they advertise as Private Label suppliers you can be sure that they are supplying a large number of competitors for you.

Find a manufacturer first and then ask them if they will private label for you. You will have less competition.

WALTER